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Life Insurance in Malaysia, Key Trends and Opportunities to 2017

256 Pages Timetric SKU: TMTR5140692

Life Insurance in Malaysia, Key Trends and Opportunities to 2017

Synopsis

The report provides in depth market analysis, information and insights into the Malaysian life insurance segment, including:
  • The Malaysian life insurance segment’s growth prospects by life insurance categories
  • Key trends and drivers for the life insurance segment
  • The various distribution channels in the Malaysian life insurance segment
  • The detailed competitive landscape in the life insurance segment in Malaysia
  • The detailed regulatory framework of the Malaysian insurance industry
  • A description of the life reinsurance segment in Malaysia
  • Porter's Five Forces Analysis of the life insurance segment
Summary

In 2012, life insurance was the largest segment in the Malaysian insurance industry, representing an industry share of 61.1%, compared to 58.6% in 2008. It is also one of the fastest-emerging life insurance segments in the Asia-Pacific region. The global financial crisis had a minimal impact on the life segment during the review period. Driven by factors such as a disciplined attitude among individuals towards savings, rising levels of consumer confidence and government initiatives on tax relief, the relatively underpenetrated Malaysian life insurance segment is expected to register a CAGR of 7.8% over the forecast period, increasing from MYR23.1 billion (US$7.5 billion) in 2012 to MYR33.6 billion (US$11.5 billion) in 2017.

Scope

This report provides a comprehensive analysis of the life insurance segment in Malaysia:
  • It provides historical values for Malaysia's life insurance segment for the report’s 2008–2012 review period, and forecast figures for the 2012–2017 forecast period
  • It offers a detailed analysis of the key categories in Malaysia's life insurance segment, along with market forecasts until 2017
  • It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, frauds and crimes, total assets, total investment income and retentions
  • It analyses the various distribution channels for life insurance products in Malaysia
  • Using Porter’s industry-standard “Five Forces” analysis, it details the competitive landscape in Malaysia for the life insurance business
  • It provides a detailed analysis of the reinsurance segment in Malaysia and its growth prospects
  • It profiles the top life insurance companies in Malaysia and outlines the key regulations affecting them
Reasons To Buy
  • Make strategic business decisions using in depth historic and forecast market data related to the Malaysian life insurance segment and each category within it
  • Understand the demand-side dynamics, key market trends and growth opportunities within the Malaysian life insurance segment
  • Assess the competitive dynamics in the life insurance segment, along with the reinsurance segment
  • Identify the growth opportunities and market dynamics within key product categories
  • Gain insights into key regulations governing the Malaysian insurance industry and its impact on companies and the market's future
Key Highlights
  • The life segment accounted for 61.1% of the industry’s written premium in 2012. The segment grew at a review-period CAGR of 10.6%
  • The global financial crisis had a minimal impact on the life segment during the review period
  • Government initiatives encourage Malaysians to invest, increasing demand for life insurance
  • Malaysia’s life insurance penetration rate measured 2.46% in 2012, which was lower than that of more economically developed countries in the region
  • The insurance industry of Malaysia is supervised and regulated by the Central Bank of Malaysia (BNM), under the supervision of the Ministry of Finance and according to the rules and regulations stipulated in the Insurance Act 1996
  • Malaysia’s life segment is highly concentrated, with the 10 leading companies collectively accounting for 94.1% of life insurance written premiums in 2012

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Life Insurance in Malaysia, Key Trends and Opportunities to 2017

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